We estimate how the marginal propensity to consume (MPC) out of liquidity varies over the
business cycle. Ten years after a Chapter 7 bankruptcy, the bankruptcy flag is removed from …

How do consumer credit markets affect the allocation of workers to firms, output, and labour
productivity? We address this question in two steps. First, we use new micro-data to estimate …

We examine the rise in student loan defaults in the Great Recession by linking
administrative student loan data at the individual borrower level to student loan borrowers' …

We study the financial and labor market impacts of bad credit reports. Using difference‐in‐
differences variation from the staggered removal of bankruptcy flags, we show that …

We estimate the effects of house price changes on young-firm employment shares and
industry-level employment growth in local economies. A novel test shows that house price …

We report the results of a field experiment in which treated employers could not observe the
compensation history of their job applicants. Treated employers responded by evaluating …

I study how initial wealth affects lifetime earnings inequality when labor markets are
frictional. To do this, I construct a model life‐cycle model with search frictions, incomplete …

This study investigates the impact of digital financial capabilities on household business
ownership and business innovation. Utilising the 2015 China Household Finance Survey …

This paper evaluates the impact of credit constraint on entrepreneurship by utilizing 2011
China Household Finance and Survey micro-data. We measure household credit constraint …

This paper studies the equilibrium effects of information restrictions in credit markets using a
large-scale natural experiment. In 2012, Chilean credit bureaus were forced to stop …